China's high-volume production with low-price steel has long been used to dump and seize global markets, putting immense pressure on steel prices and threatening the survival of steel industries in many countries. 

At present, to counter China's low-price competition, some countries have expanded their anti-dumping duties on Chinese steel. Therefore, to reduce trade barriers, the Chinese authorities recently announced measures regarding steel export licenses, aiming to both limit export volumes and reduce tax evasion. 

Although China's steel exports still grew in November, crude steel production declined by 3% compared to October, marking the sixth consecutive month of decline, and the year-on-year figure was revised down by 10.9%. 

The steel market faced a crisis in 2025 due to the US government's 50% tariffs and China's dumping of low-priced steel. However, with easing geopolitical tensions and China's proactive production cuts and export controls, market participants believe the market is poised for a recovery, potentially reversing this year's downward trend.